The dollar headed for a weekly gain on most major peers in Asian Market opening trades today as a U.S.-UK trade deal raised hopes of progress in looming U.S.-China talks, while bets of imminent U.S. rate cuts receded after the Federal Reserve indicated it was in no hurry. Financial Markets are heading into the weekend with the focus squarely on trade negotiations from Washington and Beijing due to begin on Saturday in Switzerland. Trump\'s dangling of the prospect of a trade détente with China may be adding to optimism that the global disruption from trade wars may not be as severe as markets have feared. Announcing the UK deal, Trump said he expects substantive negotiations between the U.S. and China this weekend and that tariffs on Beijing of 145% would likely come down. IN some of the major currencies today, the yen has weakened about 0.7% this week and hit a one-month trough of 146.18 per dollar, before steadying around 145.78. The euro was steady and down 0.6% for the week at $1.1217. Sterling which had rallied on news reports of an impending U.S.-UK trade deal, gave back gains when the agreement turned out to be limited and struck a three-week low of $1.3220. The Dollar index was at 100.76. The Indian rupee opened weaker with a gap of almost 10 paise at 85.81/82 against its previous session’s close of 85.71/72 and is expected to trade between 85.50 - 86.25 band today.
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